ASX Limited earnings update for the nine months to 31 March 2012

ASX Limited earnings update for the nine months to 31 March 2012

 

03/05/2012

ASX Limited (ASX) has provided an earnings update for the nine months to 31 March 2012. The update coincides with ASX’s participation at an Australian investor conference in Sydney today.

Relative to the prior comparable period (pcp - nine months to 31 March 2011) the unaudited results were as follows:

  • Statutory profit after tax $256.3 million, down 2.9%
  • Underlying profit after tax (excluding significant items) $261.6 million, down 2.7%o
    • Operating revenue $454.2 million, down 1.4%o
    • Interest and dividend revenue $40.9 million, up 6.7%
    • Cash operating expenses $104.8 million, up 4.3%

The operating revenue reduction of 1.4% for the period resulted from subdued activity levels in the ASX businesses closely linked to equity markets, largely offset by growth in ASX’s other businesses

  • Listings revenues declined 13.5% as the amount of secondary equity capital raised fell from the highs experienced during the Global Financial Crisis. Cash Market and Information Services revenues declined by 4.8% and 5.3% respectively as equity investors withdrew from the market in the second and third quarters.
  • ASX's other main business lines, including Derivatives, Technical Services and Austraclear, grew revenues over the period. Derivatives is ASX’s largest business and grew revenues 9.1%, while Technical Services revenues grew 13.6% and Austraclear 6%.

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